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Com Dev Completes EMS Acquisition |
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CAMBRIDGE, ON, Nov. 29, 2005/Satnews Daily/ — Com Dev International Ltd. (TSX:CDV) has confirmed its purchase of certain assets of the former EMS Space & Technologies Division has now closed.
The acquired business lines are the Ottawa-based Space Science and Optical Instruments operation and a next-generation Search and Rescue Payload Product Line. Com Dev is acquiring 23 employees with the Science and Optical Payload business and this operation will be relocated from its current facility to a new leased facility in the Ottawa area within the next six months.
Com Dev said based on the existing contracts being assumed by the company through this transaction, Com Dev’s backlog is increasing by approximately $18 million. This backlog is expected to be converted into revenue over the next five quarters according to Com Dev.
“This acquisition is a very good fit with our core space business, and it significantly strengthens our position in the civil space market,” said Com Dev CEO John Keating. “The EMS operations are a profitable standalone business that we expect will contribute to our growth and provide an additional source of Canadian dollar revenues.”
The Space Science and Optical Instruments
Operations, based in Ottawa, has a twenty year heritage in the design,
fabrication, and testing of custom space-based optical and electronic
instruments for space exploration, atmospheric research, plasma science,
astronomy, and Earth observation. Technologies from these programs have
also been utilized for a variety of spin-off instrument products for the
International Space Station, commercial and military communication
satellites, and various international space science missions.
Recent Stories: Com Dev to Acquire Elements of EMS' Space & Technology Division in Deal with MDA Iridium Names Avdata Systems and Advanced Global Communications as New Value-Added Developers TransCore to Develop DSRC, GPS, and Satellite Combined Communications Modem |
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